Leading tech giant Google is set to integrate crypto payments into its cloud services following a new partnership with crypto exchange Coinbase.
Google announced on Oct. 11 that from 2023 it will start accepting cryptocurrencies for payments and use Coinbase Prime to store its crypto holdings.
The pilot phase will see a handful of customers pay for Google cloud services using supported currencies on Coinbase, with plans to extend access to more customers over time.
According to the Vice president at Google Clouds, Amit Zavery, Google was looking to use Coinbase Prime to store its crypto assets.
“Google is also exploring how it can use Coinbase Prime, and see how we can participate with managing cryptocurrency assets.”
The partnership will also see Coinbase moves its data-based applications away from Amazon Web Services to the Google cloud platform.
As of press time, COIN shares are up 6% following the announcement of the partnership.